The business strategy of the Bond Sales department is focused on flexibility as the key to a successful and cost effective distribution business. An important element of the overall approach is the ability to move resources into areas that retain growth potential .
Creating a successful sales team does not mean simply hiring staff to cover geographical regions. This approach has led many investment banks to be overstaffed in various regions as business has slowed. The securities industry is currently reconsidering the widely held belief that globalisation is the one and only key to success. Flexibility allows us to meld product specialisation with strong relationships in certain geographical regions that represent growth areas for our collection of trading businesses.
The department is building a distribution business that relies on expertise in those areas where Daiwa Securities SMBC Europe Limited can and does legitimately complete. This flexibility will allow freedom of movement of resources and a competitive edge that should ensure that the company does not attempt to undercut more established investment banks in their home markets.
International distribution of Japanese products and Japanese distribution of international products are two enormous areas where Daiwa Securities SMBC Europe Limited has significant advantages, especially in the light of the synergies and relationships with the Sumitomo Mitsui Banking Corporation. It is this development that gives Daiwa Securities SMBC Europe Limited its competitive edge in our chosen markets.
